Real Estate REality Check | Real Estate & Business Career Success Education and Training

Introduction:

Overlooking the beautiful waters of Southern Florida, we are here today in Brickell with the Managing Director and leader of Douglas Elliman's Commercial division in Florida, David Restainer. In addition to being an agent of change in the community and an active member in the Miami District of Certified Commercial Investment Managers, among David's many talents is that of an expertise in hospitality, acquisitions, dispositions, investment sales and development. His passion for making a difference for his clients and life extends to that of his exemplary involvement in the Greater Miami Chamber of Commerce, the Greater Miami Convention and Visitors Bureau, and the National Council of Friends of the New World Symphony.

Episode Notes:

At 2:06, David Restainer shares that "truth" and "justice" is what he stands for in business. At 3:20, David discusses his career path, starting out on Wall Street, and the importance of reading. At 4:59, Restainer highlights the empowering entrepreneurs leading Douglas Elliman. At 6:02, he advises one to focus its time in the market instead of trying to time the market. At 7:54, David speaks on Miami's growth, and attributes the growth to a change of politics in the city of Miami. At 10:17, Restainer points out that Miami is not a sleepy place anymore, as it continues to attract people from South America, as well as from all around the world. At 11:06, he does not see "darkness on the edge of town" in Florida, and notes that the state of Florida is well positioned for the future. At 12:32, David touches upon risk and failure. At 15:41, Restainer talks about the leadership team at Douglas Elliman, and brokers having their finger on the pulse while driving company innovation. At 17:00, he believes that confidence comes from knowing what you are talking about. At 18:32, David mentions his appreciation for his parents never pressuring him to be anything but a responsible human being. At 20:48, Restainer touches upon leadership training and participating in community service initiatives. At 25:09, he utilizes a baseball analogy in regards to both failure and adversity. At 25:55, David voiced that results, and not perception, is the reality. At 27:13, Restainer closes out the podcast with a message on working every day to make the world a better place for his son, as well as everyone on this earth.

Introduction:

Today I am absolutely thrilled to have with us Mariel Ebrahimi, a true innovator who has - in just a short five years since she co-founded DisruptCRE in 2014 - truly made a difference for those with a thirst for knowledge. Mariel takes the great poet W. B. Yeats' line of "Education is not the filling of a pail, but the lighting of a fire" to a whole new level, given her passion as CEO of DisruptCRE to provide her following a better understanding of not only how the business of commercial real estate is evolving, but also as to what's here now and what's coming next when it comes to where, CRE and technology collide.

Episode Notes:

At 1:51, Mariel Ebrahimi discusses the evolution of the real estate industry since DisruptCRE started five years ago. At 3:26, Mariel speaks about a landlord's ability to set up infrastructure internally to evaluate technology opportunities. At 5:03, Ebrahimi shares the biggest part of her job is that of creating a platform and community for discussion where seasoned industry executives, as well as students can connect, share and evolve. At 7:15, she touches upon AI in commercial real estate, and her interest in seeing it play out in the physical operation of a building. At 9:06, Mariel highlights DisruptCRE doubling down on short, sweet and engaging video content. At 11:19, Ebrahimi stresses that it is crucial to know what you are solving for given the abundance of data and information available at one's disposal. At 13:24, she notes the privilege she has in learning as her full time job. At 14:56, Mariel talks about being a young woman who doesn't see boundaries in the real estate industry. At 19:07, Ebrahimi dives into garnering respect, staying true to yourself, and doubling down on the value that you bring to the table. At 21:51, she mentions the privilege and luxury to take risks and not having to color within the lines all of the time. At 23:06, Mariel points out that by taking risks, you can measure success, and thus have the ability to measure and recalibrate. At 25:33, Ebrahimi discusses the resilience of start-up founders. At 27:53, she shares that she is "always going to be a student" and constantly learning. At 29:54, Mariel speaks on the importance of being clear and direct in asking for what you want. At 32:06, Ebrahimi touches upon best return for energy spent, working smarter, and the challenge and necessity of saying no. At 33:16, she advises on discipline and delegation. At 34:30, Mariel talks about the mindset of being comfortable in a world of perpetual change. At 36:05, Ebrahimi chats about implementing healthy methods of procrastination throughout the day. At 36:45, she conveys that "work" and "play" are blended for her. At 38:38, Mariel Ebrahimi closes out the podcast with a message on building technology around cultural trends, and pushing the boundaries of the conversations of where CRE tech can go in the future.

Introduction:

Today we have with us the Founder and CEO of Zelnik & Company, a true rock star in the world of retail brokerage, yes my real estate brethren, the one and only Cory Zelnik. Throughout his career, Cory has taken my "Albert Einstein, Snoop Dogg and Drake Bring Your "A" Game – Brick House Value Theory" to a whole new level. By his actions as well as his words, this is exemplified in part by a tagline found on Zelnik's website that states "The landscape may change, yet certain fundamentals remain constant: Loyalty. Integrity. Discipline. Focus. Retail."

Episode Notes:

At 1:57, Cory Zelnik discusses being a participant versus that of a spectator, and also discusses his morning routine. At 3:17, Cory mentions the importance of having "love" for what you do. At 4:23, Zelnik talks about why size of a firm does and doesn't make a difference in the world of brokerage. At 6:26, he dives into his approach during the course of a tough negotiation. At 8:39, Cory notes how he dares to be different with the help of his team. At 9:30, Zelnik points out his first big career risk in that of going out on his own. At 10:48, he touches upon deals and failure early on in his career. At 13:06, Cory stresses that retail is different nowadays, but not dead. At 15:08, Zelnik informs about customer acquisition online versus that of in-store, as well as retailers handling "bricks and clicks." At 19:58, he provides his thoughts on the proposed retail vacancy tax. At 21:46, Cory gives his thoughts on cannabis in CRE retail. At 23:18, Zelnik shares his strategy in the current retail landscape. At 24:12, he discusses adapting to potential changes in the marketplace. At 26:45, Cory talks about how meditation has elevated his game while also slowing things down for him on all levels. At 28:59, Zelnik addresses the structure in place at Zelnik & Company, and how he instills "the fundamentals" within his team. At 30:37, he notes how he fights for opportunities in both life and business. At 31:20, Cory highlights his thoughts on communication via email versus that of picking up the phone. At 34:27, Zelnik advises that one cannot allow uncontrollable factors to drive one crazy. At 35:16, he informs that his favorite place to be is with his daughter at Madison Square Garden watching the Knicks. At 36:48, Cory Zelnik closes out the podcast with a message on making a difference and giving back to various worthwhile causes in the community.

Introduction:

Today's guest is the New York City retail king of food and beverage, the President of Meridian Retail Leasing, and the man who reminds me in a positive way of both the NYC subway system and James Brown – given that he seemingly is open for business 24/7/365, and is arguably the hardest working man in retail – yes, it's none other than James Famularo. James, who not only lives and breathes NYC, is happily married to his wife May and is the extremely proud father of two boys often seen on Instagram playing hoops on playgrounds throughout the city. Although he really didn't have that much say in the matter, Brooklyn born and raised, James made like LeBron and took his talents to Manhattan as a young man. In addition to his wife and boys, James's other passions include that of basketball, running and attending self-help seminars (such as those of Tony Robbins).

Episode Notes:

At 2:38, James Famularo discusses Eastern Consolidated closing, "speed meeting" in search of the right fit, and ultimately, his move to Meridian. At 5:07, James notes the synergies that exist between Meridian's investment sales and retail leasing divisions. At 6:02, Famularo touches upon his team providing value in that of responsiveness, flexibility, and their social media presence. At 7:18, James discusses how he continues to master his craft on a daily basis. At 8:01, Famularo brings us back to his days working in electrical construction, and thereafter his career change to real estate. At 12:10, he believes that hard work is the foundation, and there is no replacement for it. At 13:44, James talks about the biggest risk he has ever taken, leaving his salaried job to work on a commission basis. At 15:53, Famularo speaks about failure and how he handles it. At 17:17, he advises to take everything with a grain of salt while continuously moving forward. At 18:47, James dives into how he finds the balance between life and work. At 19:56, Famularo notes the changes from when he first started in the industry compared to present day. At 21:27, he talks about the current retail landscape. At 23:32, James provides his thoughts on Amazon backing out of their planned move to Long Island City. At 25:17, Famularo touches upon closing deals and pushing forward. At 27:05, he gives his thoughts on a vacancy tax potentially being charged to landlords. At 28:14, James shares how technology impacts his business. At 29:48, James Famularo closes out the podcast with a message on waking up every day with the same enjoyment for work as he had the day before.

Introduction:

Today it is my honor to have as our guest the founder and chairman of Douglaston Development, Levine Builders and Clinton Management - yes, my real estate brethren - the Brooklyn born and legendary ... and of course effervescent, Jeff Levine. A true renaissance man, Jeff is someone who not only has made a lasting imprint on the affordable, senior and market rate housing markets both here in New York as well as nationally, but also a man who strives for balance in life, given his commitment to family and the lasting impact he has made in the community. Playing off of a song title of The Rolling Stones, "Time Is [not] on My Side" to describe the seemingly countless awards that Jeff has received for making a difference, but with that said, it is my pleasure to introduce to you the Real Estate Board of New York's 2016 recipient of the Kenneth R. Gerrety Humanitarian Award.

Episode Notes:

At 2:14, Jeff Levine discusses growing up in Brooklyn, and how, by replying to a 2-line classified ad in the New York Times, he truly "started from the bottom." At 4:23, Jeff talks about adding value, as well as creating relationships with vendors, lenders and professionals that "make it right." At 5:47, Levine suggests that one must have a high threshold for aggravation in development, and must survive his or her (and not repeat) past mistakes. At 7:28, he touches upon the process of development being a 3-legged stool. At 9:16, Jeff speaks about passion, commitment and the sense of accomplishment he feels in creating something. At 10:24, Levine believes that reputation is something that is well deserved. At 11:53, he dives into the companies that sit under The Douglaston Companies umbrella: Douglaston Development, Levine Builders, and Clinton Management, as well as the importance in hiring the right people and delegation. At 14:59, Levine shares a few thoughts about his youth growing up living in NYC housing projects, and his thoughts on affordable housing. At 16:38, he talks about Sam LeFrak and shares a story from his childhood. At 18:11, Jeff notes the critical components needed in residential buildings in order to seduce and attract tenants. At 20:43, Levine mentions his respect for, and for those who put in, a hard day's work. At 22:27, Jeff touches upon making a difference in the public housing sector. At 23:56, he discusses NYCHA. At 25:53, Levine touches upon owning neighborhood retail centers which serve the community. At 27:39, he provides his thoughts on Amazon recently backing out of its planned LIC headquarters. At 29:24, Jeff imparts his love of NYC's unparalleled charm and diversity in culture. At 31:06, Levine dishes on why Douglaston Development has not made any acquisitions in NYC over the past 5 years. At 33:11, Jeff touches upon the correlation between hard work and good luck. At 34:58, Jeff conveys his thoughts on the connection between success and passion. At 36:36, Jeff Levine closes out the podcast with a message on how he would like to be remembered.

Introduction:

Today we are fortunate to have with us the multi-talented Beth Azor, the founder and owner of Azor Advisory Services, a leading commercial real estate advisory and investment firm based in Southeast Florida. Quite simply, Beth is someone who continually pays it forward for those entering and in the real estate industry. In addition to being a successful real estate owner and broker in Florida and beyond, Beth - known as "The Canvassing Queen" - is a person who takes the great poet W. B. Yeats' line "Education is not the filling of a pail, but the lighting of a fire" to heart when it comes to passing along her many coaching mantras, which have played a part for so many students and professionals in real estate in reaching their full potential.

Episode Notes:

At 2:00, Beth Azor shares that there is no magic pill for her truth … hard work! At 4:28, Beth discusses how she goes about acquiring and accumulating knowledge, and why one must surround themselves with individuals who are smarter than them. At 7:15, Azor talks about accountability, and the importance of educational training. At 10:04, she defines rejection as getting over your fear, and informs us of her book club on dealing with rejection, among other topics. At 12:25, Beth informs us of the time persistence and believing in herself paid off on a particular deal, and also of her "5 to 7 no's rule." At 14:55, Azor touches upon waking up every day with a sense of gratitude, and of her anonymous good deeds. At 17:48, Beth points out that she has not faced a lot of challenges being a woman in the industry, and advises that one must find a mentor, boss, or leader who has no glass ceiling. At 21:51, Beth challenges those hiring to hire for diversity, as leaders need to bring different perspectives to the table. At 22:59, Azor dives into how education and constantly learning helps her adapt to the ongoing changes in the real estate landscape. At 25:15, she asks Larry Haber a question in regards to the student debt crisis, and discusses her thoughts on home buying and mobility amongst millennials. At 28:38, Beth speaks about being a "half-full" girl and her positive mindset. At 30:46, Azor shares that she is a big believer in that "riches are in the niches." At 33:33, she strongly feels that retailers must learn to be "frictionless," as time cannot bought. At 35:49, Beth talks about being off the grid in her happy place of Kauai, Hawaii. At 36:58, Beth Azor closes out the podcast with a message on the two things that one can control in life: attitude and work ethic.

Introduction:

As part of the theme of today's podcast my real estate brethren, we are initially going to channel that 1970's disco classic "We Are Family," a song which among other things helped inspire the 1979 Pittsburgh Pirates to be World Series champions that year. Just as that '79 Pirates team was a close knit family, the same can be said of today's dynamic duo, namely that of commercial real estate owners and developers Norman Sturner, and his son David Sturner, of Murray Hill Properties. Norman, the Co-Founder and Chairman of MHP - which has acquired and sold more than 150 properties over the past 30 plus years - has been heard to say on more than one occasion when conveying his passion for New York City that it "is an island which cannot be moved anywhere nor lose its value." David Sturner is the President and CEO of MHP, who among his many contributions to the growth of Murray Hill Properties, oversaw the merger of MHP with the investment and management firm Banyan Street Capital out of Miami, who together now own and manage over 15 million square feet of property in the eastern region of the United States.

On a personal note, I have known Norman and David for over 30 years, back to the days when I worked for MHP during the Resolution Trust Corporation days. Back in the day, among the myriad of services MHP provided, the most enjoyable and satisfying was that of being turn-around specialists. We essentially were a M*A*S*H unit, performing the equivalent of real estate triage on the buildings which were included in distressed mortgage portfolios that our clients - such as Lehman Brothers and Lennar Partners - had purchased in such then distressed areas of SoHo, TriBeCa and downtown Greenwich, Connecticut.

Episode Notes:

At 3:03, David Sturner speaks about information being essential in the real estate industry, and suggests that the more one has at its disposal to analyze, the better the conclusion it can draw up. At 3:43, David advises how MHP adds value to properties in which they own, and also how they determine which investments they make. At 4:37, David discusses beginning his career in the construction business. At 6:35, Norman Sturner points out that MHP's focus is on adding value, but notes the current difficulty due to competition and the influx of capital from overseas. At 8:08, Norman informs us of MHP's recent partnership with Banyan Street Capital. At 11:02, David shares growing up with a passion for the real estate industry, as well as that of performing due diligence. At 13:10, Norman touches upon giving back and making a difference in the community. At 14:07, David makes known of his gratitude to his father for the head start in which he provided. At 16:55, Norman shares that 98% of the time MHP "buys bricks," as it is hard to find a cap rate that makes sense in the current landscape. At 18:47, David highlights the culture at MHP, and the importance of those who work at MHP. At 20:52, David defines risk in the past versus that of risk today, and speaks of MHP's confidence in its due diligence. At 23:28, Norman revisits a mistake MHP made in 2007/2008. At 26:51, Norman strongly believes that everybody has to walk away from the negotiating table feeling like they got something during a negotiation. At 28:16, David advises that one should figure out their passion during the early stages of its career, and once that passion is found, pursue it. At 31:21, Norman touches upon why MHP believes that it must always leave something on the table for its partners, as well as leave some meat on the bone for a new buyer when selling a property. At 32:33, Norman provides a few pointers for those interviewing and pitching business. At 34:24, David and Norman impart their thoughts on Amazon's recent withdrawal from Long Island City. At 36:47, Norman closes the podcast with a message about Manhattan being an island at the center of the world.

Introduction:

Today is a real treat my real estate brethren, as I bring to you a friend that I have known since middle school - who over 20 years ago founded the trendsetting RKF Retail Holdings, and one of the premier and dominating retail real estate firms in the country - yes, it's the chairman of RKF and Newmark Knight Frank's national retail leasing division, namely Robert K. Futterman. During his career, Robert has played a starring role in helping to revitalize not only many of New York City's significant retail markets, but also that of reshaping the retail landscape of the Vegas strip, and South Beach as well. With the recent acquisition of RKF by Newmark, Robert's passion to make a difference will be on full display as he will be responsible for the further growth of the firm's retail real estate business throughout North America. Playing off of the title of an old Grateful Dead song, given Robbie's unparalleled expertise in both landlord and tenant representation, in short, he epitomizes the words "Help on the Way."

Episode Notes:

At 2:15, Robert K. Futterman touches upon being a sponge, acquiring knowledge, and then passing on that knowledge to others. At 3:20, Robert shares that he has been energized by RKF recently being acquired by Newmark Knight Frank, and that the energy has permeated onto those who work at RKF. At 4:12, Futterman believes that luck is the byproduct of staying engaged while working hard. At 5:17, he notes that his dad thankfully passed along to him the traits of honesty, integrity and hard work, and that he works to instill the same attributes in his sons and those who work at RKF. At 6:08, Robert discusses pounding the pavement as a canvasser from the get-go early in his real estate career, and he points out that he is still a canvasser of new opportunities. At 7:02, Futterman informs of his "oh my moment" in 1998 when Gap was his #1 client. At 8:36, he elaborates on making a difference, and that it has always been in his nature to lend a helping hand. At 10:19, Robert defines his management style as an "in your face-hands on" New Yorker who doesn't like procrastination. At 11:22, Futterman speaks about millennial patterns, and the need to adapt in the current retail landscape. At 13:55, Robert talks about how he has dared to be different in business. At 15:17, Futterman advises on the ever changing retail market, and why one must be diligent and extremely focused while simultaneously staying in their lane. At 17:00, he points out that there is no other niche in real estate that has the opportunity for creativity and innovation that retail brings. At 18:18, Robert shares some kind words about his partners at RKF. At 19:34, Futterman touches upon failure and adversity, and that there's risk and reward in everything you do. At 20:49, he dives into finding the balance between life and business by carving out time for his kids and hobbies. At 21:59, Robert shares some pointers in regards to one's job search. At 22:42, Futterman brings us back to his college days at the University of Maryland while sharing a memory of promoting a Grateful Dead concert and hanging with Jerry Garcia. At 24:43, Robert K. Futterman closes out the podcast with a message on living in the moment.

Introduction:

Today we are lucky to have with us a true Renaissance man, a friend who has not only built a New York City investment sales juggernaut like none before it back in the 1980's, but also someone who made the Territory Network™ for broker market intelligence and specialization famous, and who now intends - Building By Building, Block By Block™ - to bring the clarity and transparency that his old firm brought to what properties were worth, to that of the debt market as well. Please join me in welcoming none other than the groundbreaking and multi-talented Paul Massey, the founder and CEO of the newly created, but rapidly rising, B6 Real Estate Advisors.

Episode Notes:

At 2:16, Paul Massey believes one should seek to change the world with a strategic plan in place. At 3:04, Paul touches upon planting seeds when it comes to mentoring the next generation of professionals. At 4:14, Massey advises that B6 Real Estate Advisors does not see an oversaturated investment sales market, and instead sees a "big barn door open." At 5:18, Paul informs that his rearview mirror is very clear and does not forecast the occurrence of a retail Armageddon. At 6:52, Massey talks about commercial rent control, and why he believes it to be unconstitutional. At 7:57, he chats about Massey Knakal, putting (part of) the band back together, and the yin and yang between himself and Bob Knakal. At 8:52, Paul stresses that if one sets out to go out on their own, one must know its competitive advantage. At 10:16, Massey discusses the process of walking clients through the ramifications of what they are entering into, and making sure clients have the pure motivation of proceeding after being informed. At 11:19, he dives into coaching the younger generations, along with the powerful tool of "listening." At 12:13, Paul shares that there may not be an economic reason for his clients to sell. At 14:41, Massey elaborates on B6's Territory Network™, and what he refers to as a broker's "second territory." At 18:28, he speaks about helping others. At 19:02, Paul points out an interesting statistic that the average building in NYC sells once every 39 years. At 20:35, Massey describes the culture of B6 as a deep rich fabric of who they are along with B6's "sharing metrics." At 22:06, he strongly feels that real estate is the best job on the planet, and advises those who are deciding on what they want to be when they grow up to give real estate a shot. At 22:51, Paul turns back the clock and revisits his summer job in Boston after graduating from Colgate University, and how starting at CBRE in NYC was a great launching pad for his career. At 24:50, Massey notes the importance of being in the "passion job" and never watching the clock. At 26:13, Paul explains his plans for the next 10 years - having fun, mentoring a new group of young professionals, and changing the world in bringing transparency to the debt business. At 28:36, Paul Massey closes the door on the podcast with a message on chasing one's passion.

Introduction:

Today's guest is one of CBRE's rising stars, namely Zachary Price. Zac, who is a Vice President in their Global Advisory & Transaction Services group, is responsible for business development and transaction implementation on behalf of clients he secured, as well as several of CBRE's global and prominent regional corporate clients. Zac, who possesses a tireless work ethic, was recognized a few years ago by the Commercial Observer as one of their "30 Under 30" elite group of up-and-comers in NYC commercial real estate. When he is not channeling Bruce Springsteen's song "Out in the Street" by pounding the pavement to make a difference for his clients, he is busy piggybacking on Bruce's mantra of "Born to Run," as his passion for life extends to the manner in which he wind sprints in the NYC Marathon, with a time that approaches breaking the 3-hour mark.

Episode Notes:

At 2:21, Zac discusses the importance of leaving a great first impression. At 3:25, Price talks about the industry specific market groups at CBRE, and how he goes about accumulating knowledge through these groups. At 4:34, he shares beginning his real estate career at Cushman Wakefield in 2007 on Long Island, and his path to joining CBRE in their downtown New York City office. At 6:20, Zac notes that the most important facet in his life is that of giving back and helping others. At 7:02, Price informs us that he is running in the Chicago Marathon in October. At 7:40, he dives into his negotiating style and the "iceberg." At 9:06, Zac touches upon how he builds trust and navigates a deal with his clients. At 9:59, Price mentions that he is a big believer in a team structure, and why one must prioritize by separating what is to "do" from what is "due." At 11:59, he speaks about how he is continually tapping into the different resources within the various service lines at CBRE. At 13:32, Zac talks about the most rewarding words a client has told him. At 15:29, Price states that he is locked in 24/7 to this business, but always creates time to reset the mind. At 16:55, he shares that he likes the method of polite persistence in following up with a prospective client. At 17:50, Zac notes that downturns create opportunity, and feels that one must learn to adapt to the current conditions in the marketplace. At 22:02, Price discusses persistently calling and canvassing years in advance of a lease expiring in the hopes of scoring a client. At 24:50, he informs us of his thoughts pertaining to social media, and that he scored one of his best meetings off of LinkedIn. At 26:56, Zac stresses that one must recognize when they don't know the answer, and find the expert who does. At 29:22, Larry Haber asks Zac a hypothetical "what would you do in this situation" type of question. At 33:34, Price believes that if one is exploring the office leasing arena, one needs to be at a firm with a large platform with a great depth of resources. At 35:38, he shares that running has changed his life for the better, and that he met his new best friends through Brooklyn Track Club. At 38:47, Zac Price closes the podcast with a message on work-life balance, and having fun with it (it's just real estate).